The office sector saw 49 properties sold, a decrease of 17%
from 2013, with 10 properties sold in the fourth quarter, down
from 14 sold in 4Q13. Total dollar volume for the year reached
$174M, 11% lower than 2013’s total, with $89M sold in 4Q14,
over five times as much as the total in 4Q13. Price per square
foot averaged $179, down 11% from 2013’s average, with the
fourth quarter averaging $164, down 21% from 4Q13’s average.
Cap rates climbed 46 bps on the year, to 7.0%.